Based on additional information received from RTX, the company estimated the amount payable to RTX at $246 million and recorded indemnification expense of $52 million in Other income (expense), net for the quarter ended March 31, 2025.

10-QQuarterly reportFiled Apr 24, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Based on additional information received from RTX, the company estimated the amount payable to RTX at $246 million and recorded indemnification expense of $52 million in Other income (expense), net for the quarter ended March 31, 2025.
The company said UpLift is expected to generate approximately $200 million in annual run-rate savings by the second half of 2025. Total UpLift costs incurred to date are $180 million, consisting of restructuring costs of $76 million and transformation costs of $104 million.
The company said net cash provided by operating activities for the quarter ended March 31, 2025 was $190 million, and that compensation costs of $52 million, litigation settlement costs of $21 million and impairment losses of $10 million included in net income of $256 million had no cash flow impact.
The company said it used net cash of $428 million in financing activities for the quarter ended March 31, 2025, with principal items being share repurchases of $253 million and dividends of $155 million. As of March 31, approximately $1.8 billion remained available under the new share repurchase program authorization of $2.0 billion.

Key figures

Quarter ended March 31, 2025

Revenue: $3.4B
Operating income: $411M
Net income: $243M
EPS: $0.61
Operating cash flow: $190M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

RTX Indemnification Expense Related to German Tax Litigation $52 million

Based on additional information received from RTX, the company estimated the amount payable to RTX at $246 million and recorded indemnification expense of $52 million in Other income (expense), net for the quarter ended March 31, 2025.

Source · Based on the MD&A text of the filing

UpLift Program Savings Outlook and Cumulative Costs

The company said UpLift is expected to generate approximately $200 million in annual run-rate savings by the second half of 2025. Total UpLift costs incurred to date are $180 million, consisting of restructuring costs of $76 million and transformation costs of $104 million.

Source · Based on the MD&A text of the filing

Quarterly Operating Cash Flow $190 million

The company said net cash provided by operating activities for the quarter ended March 31, 2025 was $190 million, and that compensation costs of $52 million, litigation settlement costs of $21 million and impairment losses of $10 million included in net income of $256 million had no cash flow impact.

Source · Based on the MD&A text of the filing

Quarterly Financing Cash Flow and Remaining Share Repurchase Authorization

The company said it used net cash of $428 million in financing activities for the quarter ended March 31, 2025, with principal items being share repurchases of $253 million and dividends of $155 million. As of March 31, approximately $1.8 billion remained available under the new share repurchase program authorization of $2.0 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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